Steen elected Homestake president

Large gold producer Home-stake Mining (TSE) has a new president. Peter Steen moves from the president’s chair at International Corona (TSE), which has been taken over by Homestake, to the position of president and chief operating officer of the San Francisco-based company.

Steen replaces William Humphrey, who becomes vice-chairman. Remaining as Homestake’s chairman and chief executive officer is Harry Conger. Homestake, which becomes one of the largest gold producers in North America, said it had succeeded in acquiring 96% of Corona’s common shares, 85% of Corona’s preferred A shares and 99% of Corona’s preferred C shares by the July 22 deadline of its offer.

The largest shareholder of Homestake, a widely held company, is Dundee Bancorp (TSE) with a 6.5% beneficial ownership interest. Dundee was a major shareholder of Corona.